OpenAI has announced the opening of applications for the second cohort of its six-week program, Converge 2, designed for artificial intelligence (AI) startups. The initiative, accessible globally, will invest $1 million into each of the 15 selected participants, representing a total investment of $15 million. Aimed at individuals such as engineers, designers, researchers, and product builders leveraging AI for innovative purposes, the program seeks to support the development of robust AI systems that can drive groundbreaking startups.
The Converge 2 program follows the success of its predecessor, Converge, initiated in November 2022, where OpenAI invested $1 million in each of the 12 selected startups. The startup fund is OpenAI's commitment to pushing the boundaries of applied AI in essential domains. The organization encourages founders from diverse backgrounds, irrespective of their location outside the United States or their experience level, to apply. Prior experience with AI systems is not a mandatory requirement.
OpenAI plans to conduct the initial and final weeks of the program in San Francisco, with the company covering travel expenses for participants. The application period for Converge 2 is open from Dec. 13, 2023, to Jan. 26, 2024.
The rapid proliferation of AI tools and solutions has attracted significant support from industry experts and investors. This initiative aims to nurture and empower startups that are at the forefront of AI innovation, contributing to the growth and evolution of the AI landscape.
In a related context, Kasikornbank in Thailand recently introduced a primary fund of $100 million, KXVC, dedicated to investing in AI, Web3, and deep tech startups, with a specific focus on the Asia-Pacific region. Additionally, French AI startup Mistral AI raised $415 million in its recent funding round, led by Andreessen Horowitz, signaling the continued momentum in AI-related investments.
OpenAI's Converge 2 represents a valuable opportunity for aspiring founders to receive not only financial support but also mentorship and guidance from industry leaders, contributing to the advancement of innovative AI solutions and technologies.
(AMAKA NWAOKOCHA, COINTELEGRAPH, 2023)